S/V Sundance: re: Shrinkflation

Tuesday, February 6, 2024

re: Shrinkflation

Faith,

Have you ever finished a bag of Doritos and thought, "Whoa — there should have been a lot more chips in here"?

You were right.

From Doritos to Oreos to toilet paper and beyond, big corporations have been cutting down on how much they put in a bag, in a box, or on a roll — without cutting their prices. In fact, they sometimes charge MORE. For less.

It's called "shrinkflation." Corporate executives thought we wouldn't notice, but they were wrong. We caught on. And we're not buying their excuse that it's all about inflation. Why? Because corporate profits have increased by a whopping 75% over the past few years, outrunning inflation by miles.

Shrinkflation is just another way for giant corporations to pad their profits and leave us with the crumbs. Literally. It's greed, pure and simple. We need to call it out — and we need to push back against corporate abuses of power.

In Washington, I'm working to combat price gouging, break up big monopolies that stifle competition and lead to higher prices, eliminate junk fees that can suck hundreds of dollars a month out of people's pockets, and make our economy work for working people — not just CEOs who spend their days scheming about how to make more money by doing less.

To help fight for these bold plans and more, can you pitch in $28 or any amount to our re-election campaign? Let's stay in the fight side by side.

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I know in my bones that it's possible to beat corporate interests and put our government on the side of families — because we've done it before.

Big banks threw everything they had into the fight against the Consumer Financial Protection Bureau, but we created the little agency that could, and it has forced financial institutions to return over $17 billion to the people they cheated.

Manufacturers tried to water down the law I wrote to make hearing aids more affordable, but we got the policy over the finish line, and Americans can now save thousands of dollars on hearing aids.

Corporate lobbyists wanted their clients to keep getting away with paying $0 in federal income taxes, but we passed my plan for a minimum tax on massive corporate profits, and it's helping fund our nation's biggest-ever investment in fighting climate change.

We make real, systemic change by identifying what's wrong, laying out plans to fix it, and pushing back against the powerful interests in our way.

And people like you power this movement. If it makes sense for you right now, please make a donation of any amount to keep fueling our fight.

Thanks for being a part of this,

Elizabeth